By: Mohamed Farouk

Mubasher: The indices of Boursa Kuwait closed Tuesday’s trading session mixed, as the All-Share and Main markets levelled up by 0.09% and 0.4%, respectively, whereas the Premier index inched down by 0.02%.

The market’s turnover increased by 27.4% to stand at KWD 34.39 million on Tuesday from KWD 26.99 million a day earlier. The trading volume, moreover, surged by 48.5% to reach 247.01 million shares from 166.36 million.

The telecom segment headed five risers with 1.3%, whereas the basic materials instrument topped five fallers with 0.72%.

Furthermore, First Dubai for Real Estate Development came on top of the winners with 12.77%, whereas Arzan Financial Group for Financing and Investment was the top loser with 12.98%.

Kuwait Finance House (KFH), down 0.12%, posted the highest turnover of KWD 5.47 million, while Arzan Financial Group led the trading activity through the exchange of 49.02 million shares.

The Kuwaiti stock market lacks enough purchasing momentum required to recover the losses it has seen over the previous sessions due to the predominant negative global trend and the coronavirus outbreak, vice president, investment strategy and research at Kamco Invest, Raed Diab, told Mubasher. 

Global markets in general, and China in particular, have already incurred losses consequently amid concerns over a lower global economic growth Diab noted, adding that oil prices fell to their lowest since January 2019.   

The Kuwaiti bourse may see some pressure during the coming period until more companies and banks announce the annual financials for 2019, the analyst noted.